Thursday, October 20, 2011

Stocks slip on possible EU summit cancelation...

As news came out that the EU may cancel their summit planned for this weekend, stocks have started falling.

Dow -101
Nas -41
S&P -10

Looks like steel stocks are the only group moving higher.  Gold and Silver are breaking down, as they have been tracking the strength of the Euro.  When the Euro falls, so does gold and silver.  Not sure why, other than there were rumors that European banks were heavily invested in Gold and Silver.

Here's a look at the Gold and Silver ETF's:



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